Malaysia records 3.2 pct of unemployment rate in 3Q

KUALA LUMPUR, Nov. 8 (Xinhua) — Malaysia recorded 3.2 percent of the unemployment rate in the third quarter of 2024 compared to 3.3 percent in the second quarter, official data showed Friday.
The Department of Statistics Malaysia (DOSM) said in a statement that the number of unemployed persons reduced by 1.8 percent quarter on quarter to 547,900 persons.
During the quarter, the number of the labor force showed a positive trend, increasing by 0.7 percent quarter on quarter to 17.26 million persons.
In addition, the number of employed persons increased by 0.7 percent quarter on quarter to 16.72 million persons.
Meanwhile, following the country’s encouraging economic performance, the country’s labor market position in September also remains strong.
September’s unemployment declined 0.6 percent month on month to 555,300 persons, with an unemployment rate of 3.2 percent.
“With various initiatives designed to encourage more labor participation in the market in the near future, the country’s labor force performance is anticipated to be more competitive and continue to strengthen and stabilize in the coming months,” the DOSM said. ■